The world's largest cryptocurrency exchange #Binance made an announcement that will once again stir the crypto markets. The company officially announced that it has launched a pre-market listing for the revolutionary AI-based project Magic Newton (#NEWT ) in futures!
📅 Launch date and details
Binance announced on Wednesday, June 19, that it has opened a perpetual futures contract for USDT for Magic Newton (NEWT) with a maximum leverage of 5x in the pre-market phase.
🔹 The NEWTUSDT contract will start trading at 14:30 UTC on June 19.
🔹 This listing offers an important opportunity for investors to take positions on NEWT before the spot market.
🤖 What is Magic Newton?
Magic Newton stands out as an innovative platform that offers trading strategies based on AI, automated trading systems, and secure infrastructure for AI developers. This project, which combines blockchain and artificial intelligence, aims to usher in a completely new era at the intersection of DeFi and artificial intelligence.
💹 Pre-market features
The Binance pre-market futures system allows investors to take futures positions before the token is listed on the spot market. Here are the outstanding pre-market features for the NEWT contract:
Calculation of the mark price:
The mark price, updated every second, is based on the average of the last 10 seconds of transaction prices.
If the number of transactions is less than 21, the price is determined based on the last 20 transaction prices.
Funding rate range:
Initially, it will be between -%2.00 and +%2.00 and will be updated every 4 hours.
Support for a rich asset mode:
Users will be able to use not only USDT but also Bitcoin and other assets as collateral for transactions.
🔁 Merging and transitioning process with instant listing
Binance announced that with the listing of Magic Newton on the spot market, this pre-market contract directly converts into a standard futures contract. In the process:
Open positions and orders will be retained as they are
There will be no interruption in transactions from the user's side
🛡️ Flexible adjustments
The exchange also emphasized that it can make dynamic adjustments to trading parameters such as:
Funding rates
Leverage limits
Margin requirements
depending on changes in market conditions.
📊 Outcome: AI + Crypto = Early access to the trend of the future!
The pre-market listing of Magic Newton not only showcases Binance's innovative structure but also the immense interest in AI-based projects. This extraordinary opportunity for both investors and technology enthusiasts offers an important strategic step before a potential explosion in the spot market.$BNB
🔔 Stay tuned to not miss the news!
📈 NEWT could herald a new era in the crypto side of the AI revolution...
